Author Question: Falana received 7,000 in cash from a client for professional services rendered. This transaction ... (Read 124 times)

viki · **on:** Jul 5, 2018

Falana received 7,000 in cash from a client for professional services rendered. This transaction would
a. increase assets and increase owner's equity.
b. decrease assets and increase owner's equity.
c. increase liabilities and decrease owner's equity.
d. decrease assets and decrease owner's equity.

Question 2

ABC system is likely to provide high benefits to a company whose products that the company is well-suited to make and show small profits.

Indicate whether this statement is true or false.